Home / Knowledge / News / Textiles / India taps Africa to expand economic footprint
India taps Africa to expand economic footprint
14
Dec '15
The Indo-African Chamber of Commerce and Industries which recently hosted the I for Afrika event in Ahmedabad, released a white paper during the event highlighting the thrust areas.

According to the white paper, I for Afrika targeted new business opportunities, setting up a networking platform for B2B meetings and to showcase Indian capabilities and development. The white paper also said that the Chamber would establish business links with more than 40 African countries and plan strategy to help Indian businessmen increase India's economic footprints in Africa, the Chamber said in a press release.

I for Afrika was organized with focus on sectors like agro and food Industry, constructions, infrastructure, energy and power, IT and telecom, textiles, fabrics, apparels and many more to enhance capacity building, initiatives and resource mobilization programme and act as a facilitator for exchange of business cultural, tourism between India and Africa.

K L Daga, President of the Chamber said, “We are very happy to note the intensification of India-Africa economic engagement in recent years. Our bilateral trade has multiplied 20 times in the last 15 years and doubled in the last five years to reach nearly $72 billion in 2014-2015. There is growing investment by Indian companies in Africa in a range of sectors, such as telecommunications, hydrocarbons, agriculture, manufacturing, IT, water treatment and supply, drugs and pharmaceuticals, coal, automobiles, floriculture and textiles.”

Indo-African Chamber of Commerce and Industries Secretary General Sunanda Rajendran has said, “For regional investment and trade to prosper, they have to remove obstacles to cross border business and create markets with greater critical mass, coherence and concentrated economic activity. Out of 54 nations in Africa, 26 countries have already achieved the middle income status.

“Besides Govt. and Public sector involvement we have to concentrate more on private sector involvement and small investments will be a key to accelerate the growth. We also need to have special emphasize on technology transfer. We are not looking for investing more but looking for better investment.”

The event was attended by 250 delegates from nearly 30 African countries including Egypt, Ethiopia, Gabon, Gambia and Ghana. Ethiopia was designated as the “Partner Country” in the vent. ECCSA, the Ethiopian Chamber of Commerce led a 30 member delegation, headed by its Vice President Abebaw Mekonnen.

The Vice President in his address, said that his chamber has been striving to scale up competitiveness of local products and services in the global business arena; there by paving ways for knowledge and technology transfer. Besides, ECCSA has also been promoting trade and investment both locally and abroad by organizing business to business meetings and one to one networking arrangements in priority areas of investment; which are believed to be in line with the country's development policies and strategies.

The I for Afrika event included seminars on “Doing Business with India” and “Opportunities in Challenges in Africa and Scope for India”, the release said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search